Comparatively are we paying more money in the UK major cities to live, than in other cities around the world?
If you’ve been reading certain headlines, you could quite easily believe that London in particular is the most expensive city to live in. It’s renowned for it’s high cost of living, especially when it comes to buying or renting property, and eating and drinking out, but in many area’s it is actually topped by New York City.
Are these attention grabbing headlines therefore correct? Yes London can be expensive, but it doesn’t take into account the many other cities in the UK that cost far less to live in, plus are many of the other cities around the world faring any better!
The cost of living is an important issue, as many people are struggling to keep a roof over their heads, whilst working longer hours and paying more for basic utility and food.
247Moneybox have been busy doing their own research and along with information from Numbeo’s crowdsourced data have produced an infographic (see below) showing the cost of other major cities around the world.
It shows that the UK is very similar if not cheaper at times, but that all in all the cost of living in all major cities is high.